Group Investing
My wife and I have about 3k to invest in pre-construction and apparently that is not enough for 99% of the market. I have been encouraged to form a group of people to invest. Like about 2 or 3 others. Good idea but that is easier said than done. Seem like there would be lots of other people out there like myself that have the same ambitions and have the same problem. Are there any investment opportunities out there for this amount? If so, where? I am trying to create a starting point. Please advise.
Most people will probably tell you the same thing I’ve been told. People will say start investing on your own first and then go after other potential investors I did exactly what you are trying to do (except with another form of investing). We haven’t started investing yet. The first step Is to have a business plan. You need to be able to back up your profit potential with facts. A lot of it is presentation. Eventually I want to take my business plan to banks and get lines of business credit. That’s how serious you have to be.
I exposed my ideas to people who weren’t familiar to real estate investing. I’m no guru either I’m still suffering from newbieitis lol but I do know how to give a presentation and I’ve been in business before outside of real estate investing.
I let the group know I don’t even want to invest your money until you understand exactly what I’m trying to do. I want to build a long term connection not some fly by night that makes some money and disappears.
Try locating a realtor in your area that can point you to others who may want to do what you want to do.